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Denmark is the only EU member state which has been granted an exemption from using the euro. [1] Czechia, Hungary, Poland, Romania and Sweden have not adopted the Euro either, although unlike Denmark, they have not formally opted out; instead, they fail to meet the ERM II (Exchange Rate Mechanism) which results in the non-use of the Euro.
Several European microstates outside the EU have adopted the euro as their currency. For EU sanctioning of this adoption, a monetary agreement must be concluded. Prior to the launch of the euro, agreements were reached with Monaco, San Marino, and Vatican City by EU member states (Italy in the case of San Marino and Vatican City, and France in the case of Monaco) allowing them to use the euro ...
European Union Austria Belgium Croatia Cyprus Estonia Finland France Germany Greece Ireland Italy Latvia Lithuania [6] Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain Egypt Russia [7] Somalia United States
Slovakia adopted the Euro currency on 1 January 2009 as the 16th member of the Eurozone. The euro in Slovakia was approved by the European commission on 7 May 2008. The Slovak koruna was revalued on 28 May 2008 to 30.126 for 1 euro, which was also the exchange rate for the euro. [175] [176]
The euro is the result of the European Union's project for economic and monetary union that came fully into being on 1 January 2002 and it is now the currency used by the majority of the European Union's member states, with all but Denmark (which has an opt-out in the EU treaties) bound to adopt it.
The euro is also used in countries outside the EU. Four states (Andorra, Monaco, San Marino, and Vatican City) have signed formal agreements with the EU to use the euro and issue their own coins. [29] [30] Nevertheless, they are not considered part of the eurozone by the ECB and do not have a seat in the ECB or Euro Group.
The economy of Slovakia is based upon Slovakia becoming an EU member state in 2004, and adopting the euro at the beginning of 2009. Its capital, Bratislava , is the largest financial centre in Slovakia.
The Slovak euro coins are the European monetary union euro coins issued by Slovakia since 2009. They feature three separate designs for the three series of coins. Slovakia has been a member of the European Union since May 2004, and is a member of the European Economic and Monetary Union. Slovakia adopted the euro on 1 January 2009, replacing ...